The size of the Europe Cannula Market is estimated at USD 41.42 billion in 2022 and forecasted growing at a CAGR of 5.77%, to reach USD 54.83 billion by 2027. Europe has the second-largest market for cannula in the world by share. Factors such as the rising number of surgical procedures and a large number of patients are expected to drive the market growth in the region.
The cannula is a thin tube inserted into a vein or body cavity to deliver medicine, drain fluid, or insert a surgical instrument. The purpose of the cannula is to improve patient outcomes by reducing the potential complications that result from peripheral cannulation and to decrease staff anxiety regarding routine cannula movement in patients with poor peripheral vascular access.
The market's significant drivers include the increasing number of surgeries, the advancement of healthcare establishments, the increase in R & D investments, the large number of patients, and the rise in government funding. The rise of minimally invasive surgery (MIS) procedures is also a significant driver of this market. Based on the application, the Plastic / Cosmetic Surgery segment is expected to be the fastest-growing segment due to increased health awareness and a growing number of obesity cases, resulting in a rising number of surgeries beauty products. In terms of the materials segment, silicone and metal are seen as an attractive market segment. They are expected to occupy a significant market share in the coming years, with growth attributed to factors such as increasing adoption of technological advances. Based on the product, nasal cannulas are considered an attractive market segment. They are expected to occupy a significant market share in the coming years, with growth attributed to factors such as an increasing number of respiratory disorders and growing popularity.
An uncertain regulatory environment in the medical device industry and inadequate cannula stabilization are the main obstacles to the growth of the European cannula market. The possibility of infection is the main challenge facing the cannula market.
This research report on the European Cannula Market has been segmented and sub-segmented into the following categories:
In Europe, Germany is expected to grow by around 6% CAGR from 2020 to 2025. The German cannula market is expected to grow at full speed over the next period due to the high employment in oxygen therapies for the regular delivery of oxygen to the elderly and patients with respiratory disorders and its non-irritating nature. According to the annual statistics of plastic surgery procedures, in Germany, there was approx. 15.9 million minimally invasive and surgical cosmetic procedures performed in 2020, or approximately. 3% increase from 2016. The adoption of new technologies in the cannula market also increases the demand for the cannula market. At present, a new injection molding technology is launched in the German medical cannula market to produce plastic medical needles to develop the European cannula market during the forecast period (2020-2025).
Key players operating in the Europe Cannula Market profiled in this report are Medtronic plc (U.S.), Edward Lifesciences Corp. (U.S.), Terumo Corporation (Japan), Sorin Group (Italy), and Maquet Holding B.V. & Co. KG (Germany), among others.
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